Target (NYSE:TGT) Lowered to “Hold” Rating by StockNews.com

Target (NYSE:TGT) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

A number of other brokerages have also issued reports on TGT. Jefferies Financial Group decreased their price objective on Target from $165.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Piper Sandler decreased their price objective on Target from $132.00 to $124.00 and set a “neutral” rating for the company in a report on Wednesday, March 5th. The Goldman Sachs Group decreased their price target on Target from $166.00 to $142.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Hsbc Global Res lowered Target from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Truist Financial decreased their price target on Target from $134.00 to $124.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Target has a consensus rating of “Hold” and an average price target of $145.87.

Target Stock Down 0.8 %

Shares of Target stock opened at $112.88 on Wednesday. Target has a twelve month low of $111.84 and a twelve month high of $181.86. The stock has a market capitalization of $51.72 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.94 and a beta of 1.18. The business’s 50 day simple moving average is $131.18 and its 200-day simple moving average is $140.74. The company has a current ratio of 0.94, a quick ratio of 0.25 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT) last issued its quarterly earnings data on Tuesday, March 4th. The retailer reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.17. Target had a return on equity of 31.11% and a net margin of 4.06%. The business had revenue of $30.92 billion during the quarter, compared to analyst estimates of $30.83 billion. Equities research analysts forecast that Target will post 8.69 earnings per share for the current year.

Institutional Trading of Target

A number of hedge funds have recently modified their holdings of TGT. Norges Bank purchased a new stake in shares of Target in the fourth quarter valued at $757,892,000. State Street Corp lifted its holdings in shares of Target by 8.3% in the third quarter. State Street Corp now owns 35,484,252 shares of the retailer’s stock valued at $5,530,576,000 after purchasing an additional 2,732,801 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Target in the fourth quarter valued at $297,122,000. Ameriprise Financial Inc. raised its holdings in shares of Target by 61.2% during the fourth quarter. Ameriprise Financial Inc. now owns 3,968,037 shares of the retailer’s stock worth $536,407,000 after acquiring an additional 1,506,275 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Target by 173.2% during the third quarter. Two Sigma Advisers LP now owns 2,369,400 shares of the retailer’s stock worth $369,295,000 after acquiring an additional 1,502,200 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.